My husband still works, and he has a consulting business, so for now we are ok, not great but not yet dire, he works 100% remote so only if it makes financial sense moving OOS to fulfill next step to get to financial freedom- it is an option . current picture. 

Consult a tax pro to maximize these benefits!

Always keep personal and business accounts separate, document all transactions, and consult a CPA or attorney to ensure compliance and maintain liability protection.This post does not create a CPA-Client relationship.

If we put what her husband did to the side (I would recommend that your friend consult an attorney for that) and assuming "made the HELOC go away" means to pay it off, then most certainly this makes sense. 

This is the breakdown:2 tenants on month to month leases ~$250-$350 less than market1 long term tenant (15yrs) is now on month to month lease and is paying $1500 less than marketAfter consulting with a couple of people and doing some research, it sounds like anything over a I should apply banking rent raise and submit a 60 day notice (all of these units fall into that category).

But furthermore, consult with your attorney.Hope this helps.

@Elliot Angus To structure this deal, consult a Qualified Intermediary (QI) for 1031 compliance, a real estate attorney for seller-finance terms, and a CPA to ensure tax deferral.

Full disclosure...our development arm and our lending arm JV and Consult with investors with less experience to ensure the downside risk of their investment is protected.

It's important to consult an attorney and an accountant eventually, but your first step should be to discuss your plans with your lender.

My suspicion is that we probably will see little or no money and should investigate using our losses as tax-write offs (consult your lawyer/tax advisor).